NEW YORK and KANSAS CITY, Mo., April 29, 2026 /PRNewswire/ — Lightstone announced today that it has closed on a strategic investment in The McDaniel Company, the parent company of Heartland National Life Insurance Company (“Heartland” or “HNL”), a growing provider of annuity and supplemental health insurance solutions serving the U.S. retirement market.

The transaction builds upon Lightstone’s existing relationship with Heartland and reflects the company’s continued commitment to the insurance and retirement sectors and its focus on long-term, conservative value creation.

“Lightstone has a long history of identifying durable, long-term investment opportunities,” said Mitchell Hochberg, President of Lightstone. “This partnership with Heartland reflects our shared commitment to thoughtful growth, conservative asset management, and expanding access to high-quality retirement and insurance products.”

“This transaction represents our long-term commitment to creating value for our policyholders, distribution partners, and shareholders,” said Christopher M. McDaniel, Chairman and CEO of Heartland National Life. “By combining Heartland’s insurance expertise with Lightstone’s disciplined investment approach, we are well-positioned to deliver certainty, security, and innovative solutions for American retirees and their families.”

Lightstone will support Heartland’s next phase of growth by providing capital resources, investment expertise, and strategic support to expand Heartland’s annuity and supplemental health product offerings. Leveraging its experience across investments and insurance-related platforms, Lightstone intends to facilitate Heartland’s continued strength in delivering best-in-class Multi-Year Guaranteed Annuity and Fixed Indexed Annuity solutions.

Consistent with the firm’s commitment to experienced insurance leadership, in addition to McDaniel continuing as Chairman and CEO, Heartland is effectuating the following leadership changes:

• Nick Micheletti, currently Chief Operating Officer, will assume the role of President of Heartland National Life.
• Ty Wooldridge, former Chief Executive Officer of Aetna Senior Supplemental Benefits Group, will be consulting and advising management and ownership.
• Brandon Reid will advance to Chief Marketing Officer, and Todd Wyss will assume the role of Vice President of Annuity Distribution.

In addition, the following Lightstone executives will assume leadership roles:

• Mitchell Hochberg, President of Lightstone, will join the Board of Directors as Senior Director and advisor to the ownership group.
• Craig Buck, Chief Executive Officer of Converge Re, will remain on Heartland’s Board of Directors.
• Moshe Lichtenstein, Chief Risk Officer of Lightstone, will assume the role of Chief Investment Officer of Heartland.

“We believe the best results come from focused, intentional partnerships,” said Nick Micheletti, President of Heartland National Life. “Our priority is building a best-in-class platform with distribution partners who value strong products, financial stability, and long-term relationships.”

Heartland National Life was advised by Amy Beard, former Indiana Insurance Commissioner, of Taft Law Group.
Lightstone was represented by Brad Drake of Paul Hastings LLP and Curt Hidde of Barnes & Thornburg LLP.

ABOUT LIGHTSTONE

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing, and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 235 existing properties, Lightstone’s over $12 billion portfolio currently includes over 15 million square feet of industrial, life sciences, and commercial properties, over 25,000 residential units, and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion developed in the residential and hospitality sectors, spread across New York City, Los Angeles, and Miami.

ABOUT HEARTLAND NATIONAL

Heartland National Life (Heartland) was founded by Christopher McDaniel in November 2007. Heartland offers retirement annuities and supplemental accident and health products to its diverse customer base. Heartland focuses on providing relevant and responsibly designed insurance products with the support of its distribution and reinsurance partners. Heartland is BBB+ rated by AM Best. For more information, please visit heartlandnationallife.com.

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SOURCE Lightstone